It's important to always consider our future, as there's no guarantee of what lies ahead. That's why it's recommended to save money for emergencies. According to what I've read, having at least six months' worth of your monthly salary in savings can provide a safety net to cover your expenses while you search for a job or clients. It all comes down to discipline – it's fine to enjoy your earnings, as they say money is meant to be spent, but it's crucial to make wise choices in how you spend it.
Some individuals, even while employed, engage in side jobs or start small businesses to ensure they have an additional source of income. This strategy helps mitigate the risk of unforeseen challenges, much like what happened to you when you lost your client and faced difficulties. Diversifying income sources is akin to the concept of minimizing risk by not putting all your eggs in one basket, as we often do in investments.
Topic: Biting more than i can chew. How can i do better? - page 6. (Read 744 times)
I am a young man who is not married. I have made some mistakes in how I use money and the resources I obtain. So, I have come to share this problem with everyone in the hope of finding help and changing the way I misuse money. I have a psychological memory from my upbringing that money is earned and should be spent as long as you keep earning. I see money as something that needs to be spent. If I see something I like or desire, I buy it without minding the cost as long as I really like it. Yep. Many years of self-employment with varying monthly income were like a blessing to me since I started designing and building websites. This little money made me a bit proud of myself and where I've come. I made a lot of friends, and whenever they asked me for anything, if I had the money in my possession, I'd disburse it to them. I was happy to receive praise that I was the best friend a person could ever have. I won't forget when I started going to clubs and spending money on luxurious clothes and booking rides from one city to another.
All of a sudden, everything changed. I lost one of my most loyal clients due to a car accident. I started getting fewer job opportunities. My monthly earnings were so low that I could hardly afford anything. All the friends I had left me, with only a few remaining. That's when I realized that I could do better. It's been over five months now, and things are still not completely okay for me. But I want to change and plan for myself.
The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.
All of a sudden, everything changed. I lost one of my most loyal clients due to a car accident. I started getting fewer job opportunities. My monthly earnings were so low that I could hardly afford anything. All the friends I had left me, with only a few remaining. That's when I realized that I could do better. It's been over five months now, and things are still not completely okay for me. But I want to change and plan for myself.
The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.
That is life for you. I think by that time you were doing all that, going to clubs and moving from city to city like you had a machine that was making money, i believe someone would have advise you to stop and to stop spending your money, because it seems like where you are making money will last forever. Nothing lasts forever, so we should make the most of every chance we get in life to create something. For example, if you had invested all the money you were earning at the time in bitcoin, you could have become a billionaire right away. Nothing would bother you, and you could begin living the life you've craved for, but that doesn't come to your mind then.
You truly made a mistake, buddy. I only hope that things are improving in your life because of how you have been using your money for necessities. You are still a young man, you are single, and you have the ability to make things right for yourself. There won't be any pressure on you. By now, you could have established yourself as a successful young businessman if you had taken good care of yourself earlier that are earning huge of Look at it, your friends have abandoned you You did for them when they needed it, now you are left all by yourself, it is difficult for you and no one wants to support you. I think that may have given you a big lesson of human. I think you can still succeed in life if you continue to work hard; it might just be a test of life.
The mistakes you make in your twenties may be costly. Therefore, as long as you are still young and do not have obligations such as starting a family, supporting your family, or any obligations such as real estate debts, student debts, etc. it is better to think seriously about your financial future. Always try to reduce your expenses and control your expenses. Your instincts are to pay yourself first by investing and leave the surplus to pay the bills. If there is anything left, you can buy what you need and do not do the opposite, meaning that you do not start buying unnecessary things, then necessities, then investing. If it is difficult, look for a mentor, whether it be a psychological counselor or an economic expert.
I am a young man who is not married. I have made some mistakes in how I use money and the resources I obtain. So, I have come to share this problem with everyone in the hope of finding help and changing the way I misuse money. I have a psychological memory from my upbringing that money is earned and should be spent as long as you keep earning. I see money as something that needs to be spent. If I see something I like or desire, I buy it without minding the cost as long as I really like it. Yep. Many years of self-employment with varying monthly income were like a blessing to me since I started designing and building websites. This little money made me a bit proud of myself and where I've come. I made a lot of friends, and whenever they asked me for anything, if I had the money in my possession, I'd disburse it to them. I was happy to receive praise that I was the best friend a person could ever have. I won't forget when I started going to clubs and spending money on luxurious clothes and booking rides from one city to another.
All of a sudden, everything changed. I lost one of my most loyal clients due to a car accident. I started getting fewer job opportunities. My monthly earnings were so low that I could hardly afford anything. All the friends I had left me, with only a few remaining. That's when I realized that I could do better. It's been over five months now, and things are still not completely okay for me. But I want to change and plan for myself.
The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.
Well, you have said a lot and I really agree with that on one side. Yes, it is true that money is for spending, but it is not just for spending alone. If you spend money without creating an opportunity for another money to come into your hands, then you will be left with nothing (after spending the ones you have).All of a sudden, everything changed. I lost one of my most loyal clients due to a car accident. I started getting fewer job opportunities. My monthly earnings were so low that I could hardly afford anything. All the friends I had left me, with only a few remaining. That's when I realized that I could do better. It's been over five months now, and things are still not completely okay for me. But I want to change and plan for myself.
The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.
Also, while spending, it is also good to save a little so that it can help you get out of emergency cases, just like now that you are left with nothing and your friends have forgotten about you just because you don't have a dime. However, this will be a good lesson for you just if you gain back what you have lost previously, you will learn how to manage money, how to save and how to create an opportunity for more money to come.
It is a bit easy to meet good friends and bad friends. It is just simple. A true and good friend can watch your back when you can't see clearly, but a bad friend will run away when you are in trouble, more especially, when you need them most (it is not a good idea to keep bad friends).
Making money and spending money is not a bad thing; what's bad is you making money and spending all of it; that's where it could be considered bad behaviour. Based on your story, what I notice is that your major issue is,
1. You want to satisfy your wants and desires all the time.
2. You want to satisfy your friends and feel at home.
The reason why you realise you are not really living your best life is because you have started running for cash. Since the cash is not coming in as always, you have started realising that you are not doing wise spending.
My advice is that the only thing you need to put at the forefront of your spending is your needs. You need to minimise your wants and cut off those desires to always get everything that you want. Those alone can run you dry. That's because human wants don't have limitations; more will continue to come as you satisfy one another.
As for your friends that you have lost, they were never your friends; most of them were just there to enjoy what you could offer at the table and leave a competitive life with you. The moment you can't meet that standard, they will live, so such friends are not even worth keeping, and their leaving you now is a cage-free for you.
Set up a savings plan, as you don't have a fixed amount and fixed date that you receive your money. Always make sure those little you receive by doing certain jobs you remove your savings from it, keeping in mind that if you don't have anything no one will come to your aid. Start spending responsibly and take away that mindset of more is coming. Why not spend the little I have now to create room for others?
1. You want to satisfy your wants and desires all the time.
2. You want to satisfy your friends and feel at home.
The reason why you realise you are not really living your best life is because you have started running for cash. Since the cash is not coming in as always, you have started realising that you are not doing wise spending.
My advice is that the only thing you need to put at the forefront of your spending is your needs. You need to minimise your wants and cut off those desires to always get everything that you want. Those alone can run you dry. That's because human wants don't have limitations; more will continue to come as you satisfy one another.
As for your friends that you have lost, they were never your friends; most of them were just there to enjoy what you could offer at the table and leave a competitive life with you. The moment you can't meet that standard, they will live, so such friends are not even worth keeping, and their leaving you now is a cage-free for you.
Set up a savings plan, as you don't have a fixed amount and fixed date that you receive your money. Always make sure those little you receive by doing certain jobs you remove your savings from it, keeping in mind that if you don't have anything no one will come to your aid. Start spending responsibly and take away that mindset of more is coming. Why not spend the little I have now to create room for others?
The serious mistakes that we often do is that we all learn to depend on a single entity for our sustainability without having a backup for it, doing a business is a good as putting the risk management in mind that anything can happen at anytime, how will I be able to recover from loosing my customers, market sales or the informations I've got concerning my business if the worst scenario should happened.
When we consider this, each time something new is about to occur, then we will have to remember that we aren't loosing because we already have a backup means to help our business keep running.
When we consider this, each time something new is about to occur, then we will have to remember that we aren't loosing because we already have a backup means to help our business keep running.
Well, bull season passes rather quickly when you're not saving money for a rainy day. Or even if you're not saving enough money for it. The amount varies per person.
But like I suggest to everyone else, it's time to start cutting down on expenses. Think about what is necessary for you, and the things that you only desire to have, postpone them until another date.
But like I suggest to everyone else, it's time to start cutting down on expenses. Think about what is necessary for you, and the things that you only desire to have, postpone them until another date.
I think we all have made some bad financial decisions we’d prefer not to have made in the past. While the mistakes made in the past may in a way, tell on your future, it doesn’t totally define your life unless you let it.
You’ve learned the hard way sadly, that not everyone that flocks around when all is well should be considered a friend. And In your case, you earned your money so I can understand being proud of what you’ve got. Anyone would. You’re now fully aware of the reasons on your new financial situation and things that should be curbed. You can really do much better.
Thanks. I guess I also needed to be reminded.
You’ve learned the hard way sadly, that not everyone that flocks around when all is well should be considered a friend. And In your case, you earned your money so I can understand being proud of what you’ve got. Anyone would. You’re now fully aware of the reasons on your new financial situation and things that should be curbed. You can really do much better.
but if you achieve something once, you will do it again.
Thanks. I guess I also needed to be reminded.
The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.
At least you realize that you have gone the wrong way in managing your finances. And awareness like this should increase your insight and allow you to learn from the mistakes you have made. And I feel confident that you will be able to get back up and rebuild your finances on a better path. Because so far, haven't you also succeeded in making money from your hard work on the internet? Then I'm sure you will be able to do it again.It's just that this time you really have to start changing the way you manage your finances. You have to start managing your finances better. By learning to allocate money to things that you have prepared and planned well. You must begin to be able to differentiate between main needs and additional needs. Everyone likes to have fun but we don't always have to do it too often. Limit this to once a month or once a week. you have to start being able to restrain yourself.
Test them one by one and you have done well with them.
Start with new habits and don't give them anger for what they have done for you. On the other hand, you also don't need to feel sad about what you have given them.
Say thank you to those you once considered friends.
There are friends who are allowed to be brought to the fence of the house. There are friends who are only allowed to enter the house. There are friends who can exchange things with each other.
Hopefully you understand what I mean.
We can be friends with anyone without choosing, what we need to do is know the limits of friendship, it is true that we need to test them before giving them more trust, but in my opinion, even without testing them, if they really have evil intentions towards us then they will visible by itself without us needing to test them. You are right that there are some friends who we cannot give full trust to because they don't deserve it from us and there are also some who we can give full trust to, because we have spent a lot of time with them, both happy and unhappy. Start with new habits and don't give them anger for what they have done for you. On the other hand, you also don't need to feel sad about what you have given them.
Say thank you to those you once considered friends.
There are friends who are allowed to be brought to the fence of the house. There are friends who are only allowed to enter the house. There are friends who can exchange things with each other.
Hopefully you understand what I mean.
Hope things get better for you. Honestly, it is hard for me to comment on your situation since the suggestions seem quite obvious at first glance that it might sound offensive. If you currently lack monthly income, why don't you try to open a service thread to make websites, etc? Or look for a part-time job near your area. For your financial management, I don't think the mindset you had is right. You need to manage money, not always spend it. Luckily you seem to have realized it already.
If you're asking how to save your money, I can only share how I did it. Personally, I will calculate how much monthly spending that I need to pay. I would avoid buying things through credit or lending money to others unless I'm sure I can pay the next 6 months without any problem. I'd allocate most of my money to saving/investment, and avoid buying luxury/unnecessary things. I think it is a matter of habit too. Learning to cook for example is one of the easiest ways to save money.
Yes, things have started getting into place gradually. I had made some plans that I want to execute soon. Firstly am on the process as if building my portfolio website which contain a brief story of my life and more of my works accomplished. Also I have made a simple design of my service thread for my design. So before the end of next week I will be posting it on the service discussion thread. When am done with that I may share the link to the thread here if it's permitted so that you and other concerned members can give some positive comment after viewing my portfolios.If you're asking how to save your money, I can only share how I did it. Personally, I will calculate how much monthly spending that I need to pay. I would avoid buying things through credit or lending money to others unless I'm sure I can pay the next 6 months without any problem. I'd allocate most of my money to saving/investment, and avoid buying luxury/unnecessary things. I think it is a matter of habit too. Learning to cook for example is one of the easiest ways to save money.
And for you, OP, I think everything will be fine. You have the right to a beautiful life—the one that everyone wants to have. You've seen a few examples and gained some experience, and now, as you grow up, you know that money tends to run out randomly. Therefore, first, create a financial safety net for yourself and continue to enjoy life.
I joined the forum about 4 to 5 months ago. Ever since then I have had beautiful life. My views and mentality changed. I have learnt a lot that has helped improved my knowledge in general. One thing I am eager to do f I am given an opportunity is to show my skills when I get my first job opportunity in the forum. 
Your condition may be in the context of being intentional, on the basis of your hobby of buying and because of the relationship of friends you do not hesitate to give it, in my opinion it is normal but the option should have a good commitment to yourself or even give loans to friends especially about finances when conditions are good at all, I realize that being self-employed is making money depending on the client who needs our services and every day it will be different income earned especially unexpected conditions like what you experienced can happen at any time for termination of cooperation for any reason sir, if you are still pursuing similar services it could be that the client moves elsewhere, imagine if in the future you experience the same thing, of course you will be wiser to manage money from yesterday, right?.
I am sorry for what you are going through, but now is the time for you to rise up, so that the lost clients can come again from new clients and you can continue your work with a recovered turnover, experience is something valuable and it is medicine to do something to see what the consequences and benefits are before acting.
You may still feel like it's unfair, but believe it or not many people with basic economic skills have just gotten to where you are today, you have valuable skills and experience, start again, renew again and grow again.
There are still many hopes that can be achieved and can run with your current mindset, do not hesitate to reference from other people if you think it's a good idea.
I am sorry for what you are going through, but now is the time for you to rise up, so that the lost clients can come again from new clients and you can continue your work with a recovered turnover, experience is something valuable and it is medicine to do something to see what the consequences and benefits are before acting.
You may still feel like it's unfair, but believe it or not many people with basic economic skills have just gotten to where you are today, you have valuable skills and experience, start again, renew again and grow again.
There are still many hopes that can be achieved and can run with your current mindset, do not hesitate to reference from other people if you think it's a good idea.
We cannot give you golden advice, as we may be in different countries, with different income levels, and a different definition of wealth, but in all countries of the world, unless your income is higher than your expenses, you will continue to suffer financially. Reduce your spending to a reasonable amount, leave yourself two days a month for luxuries, buy luxury clothes every 6 months, and calculate your income. If it is equal to your expenses, then look for an additional source of income to invest in. else, then you must change your job or at least reduce your spending.
Your health condition is fine now, but as you get older, you need more money and you may need to start a family, and therefore you should not think about friendships, especially those friends who love you because you have money.
Your health condition is fine now, but as you get older, you need more money and you may need to start a family, and therefore you should not think about friendships, especially those friends who love you because you have money.
You succeeded in bringing me into your story. What's interesting about your story is about how you should make friends and manage your finances well. The phrase and advice that we often get from loved ones is that friends can make you rich and friends can make you suffer.
Money is like magic that can bewitch situations in an instant.
When we have a lot of money which makes it easier for us to have the needs we want, our friends can increase from just a few people.
Here, I want to convey that you have had an extraordinary experience. Hopefully this experience can make you a greater person with the skills you have.
Not all friends you consider friends are really friends. There is only one in ten friends who is a true friend.
Test them one by one and you have done well with them.
Start with new habits and don't give them anger for what they have done for you. On the other hand, you also don't need to feel sad about what you have given them.
Say thank you to those you once considered friends.
There are friends who are allowed to be brought to the fence of the house. There are friends who are only allowed to enter the house. There are friends who can exchange things with each other.
Hopefully you understand what I mean.
Money is like magic that can bewitch situations in an instant.
When we have a lot of money which makes it easier for us to have the needs we want, our friends can increase from just a few people.
Here, I want to convey that you have had an extraordinary experience. Hopefully this experience can make you a greater person with the skills you have.
Not all friends you consider friends are really friends. There is only one in ten friends who is a true friend.
Test them one by one and you have done well with them.
Start with new habits and don't give them anger for what they have done for you. On the other hand, you also don't need to feel sad about what you have given them.
Say thank you to those you once considered friends.
There are friends who are allowed to be brought to the fence of the house. There are friends who are only allowed to enter the house. There are friends who can exchange things with each other.
Hopefully you understand what I mean.
Your story makes it very clear that the uncontrolled happiness you felt when you first made money has come back to haunt you. Your cash plan needs to be completely redone. The way you handle your money (spending what you earn) is a time bomb waiting to go off. Think carefully about what you're doing. Thinking that your self-worth is closely linked to how much you spend and the short-term praise from so-called friends is not a real problem
Now this is a real plan. First, understand how the current economy works. Saving is just as important as earning. Budgeting and smart allocating of funds should be encouraged. Get rid of the idea that short-term ties and club nights are what make you successful. This is a lesson in being strong and managing your resources. Being financially stable doesn't just mean making money; it means making money wisely and saving a lot
Now this is a real plan. First, understand how the current economy works. Saving is just as important as earning. Budgeting and smart allocating of funds should be encouraged. Get rid of the idea that short-term ties and club nights are what make you successful. This is a lesson in being strong and managing your resources. Being financially stable doesn't just mean making money; it means making money wisely and saving a lot
The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.
I think that you all understand what led to this situation and what should be done to change it. What do you want to hear, what advice do you need?First, learn to live within your means, and make sure to save at least 10% of your income, or even better, 30%. Secondly, when you collect a more or less significant amount, think about making this money start working for you. There are many options for this, but try to figure it out for yourself, determine for yourself where you could invest this money to receive passive income, perhaps this amount should be divided and invested in different assets.
I have a psychological memory from my upbringing that money is earned and should be spent as long as you keep earning.
Yeah, and you can't be sure how long you'll be able to earn stably. And this is actually not a new problem, where when people start earning more they also increase their excessive lifestyle and relationship patterns. And some of the reasons are very silly, just wanting to get recognition in their social environment.I remember the old message, "too much is not good even if it is a good thing".
The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.
That is really unfortunate story man but at least you learn a valuable lesson on your experience so next time try to manage your finances and buy only those things that you really need not those you only want because you like to flex that you are financial capable than those other people since you already know how will you end up if you do similar situation once you get up and start to earn huge again on your online jobs you take. For now try to set aside or totally forget those friends which is not there when you are struggling but focus on those person who's there when you need help because they are the true person who has a concern on you.
Also lastly always stay positive in life since not every time we are full of blessing so let those hardship be a lesson for you to save some money on emergency situation so that you will not struggle in life financially if same case happen and you need to find another good job that can give you more better profits.
You've said that you've grown to believe that as long as you've means to make money, you don't have to worry about spending and given that it's instilled to you at such a young age I assume, you're going to have a hard time being able to change the way you see money and your spending because the habit and mindset is too innate that a change would be difficult, you can probably do it in two days and then you're going to relapse to your old habits, I suggest that you talk this out with a financial expert that can help you in your spending and a psychologist to help you or guide you into rewiring how you think when it comes to money and removing the old habits and mindset that you want to change or remove. Self-help books can be helpful too.
The story is very relatable to all young people who later have to grow up. I can relate your experience to mine. Parents who help and do not deny their child anything can greatly harm him in the future. But you earned your own living, and in this way, you can be respected. Yes, not everyone is given a book on how to lead their own correct life, but if you achieve something once, you will do it again.
Another question is when a person enters life very spoiled and all the problems that he did not expect splash out on him at the moment. This requires self-confidence and strength.
And for you, OP, I think everything will be fine. You have the right to a beautiful life—the one that everyone wants to have. You've seen a few examples and gained some experience, and now, as you grow up, you know that money tends to run out randomly. Therefore, first, create a financial safety net for yourself and continue to enjoy life.
Another question is when a person enters life very spoiled and all the problems that he did not expect splash out on him at the moment. This requires self-confidence and strength.
And for you, OP, I think everything will be fine. You have the right to a beautiful life—the one that everyone wants to have. You've seen a few examples and gained some experience, and now, as you grow up, you know that money tends to run out randomly. Therefore, first, create a financial safety net for yourself and continue to enjoy life.
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